Which would you prefer: a satisfaction that the “rich” get taxed more, or to keep your job?
What good is wealth redistribution if it comes at a cost of lost jobs. Or at a cost of no or lower pay raises.
But cool Obama has so far managed to pretend that his proposed economic policies will not have negative effect on jobs and salaries.
When companies are taxed more, they will have to cut the cost somewhere. Maybe they will lay some people off. And make the others work harder. Or maybe they will give you a meager raise the coming year. Or no raise at all. Everyone who has had job for a while, knows that these things do happen if businesses have to cut cost.
But of course Obama wants to strengthen the unions to prevent the above. That will not help much if a business does not make profit.
I recently talked to a VP of a company about Obama’s plan to introduce mandatory seven paid sick-days per year — some, especially smaller companies do not have them. He immediately told me “we will cut the vacations”. To that I responded that they will not be able to hire anyone if they give so few vacation days. “So we will cut salaries then” was the reply. Seven sick days may be worth 3% or more in a salary cut (or that much lower salary raise next year).
Here is a good video showing what is at stake in these elections as far as economy is concerned.